SOURCE: Nanosys, Inc.

May 04, 2006 11:00 ET

Nanosys Chairman Is Featured Guest as Senator Introduces Research Competitiveness Bill

PALO ALTO, CA -- (MARKET WIRE) -- May 4, 2006 -- Nanosys, Inc.'s Executive Chairman Larry Bock helped U.S. Senator Max Baucus (D-MT) introduce his "Research Competitiveness Act of 2006" at an event in Washington, D.C. today. Mr. Bock, attending as a business leader in the nanotechnology industry and an executive of one of the leading small companies focused on nanotechnology, expressed strong support for Senator Baucus's bill.

The Research Competitiveness Act of 2006 is the fourth in a series of bills that Senator Baucus has introduced to enhance America's economic competitiveness. According to a press release from the office of Senator Baucus, the Research Competitiveness Act will update, streamline and extend the research and development tax credit and other tax incentives to help American innovators create the most cutting-edge technology and products in the world.

"The Research Competitiveness Act is designed to foster research and commercialization in innovative sectors of the American economy, and nanotechnology is a prime example," said Bock. "The Research Competitiveness Act will help promote investment in small companies on the forefront of nanotechnology R&D efforts."

Mr. Bock worked with the NanoBusiness Alliance, the nanotechnology industry trade association, to provide input on the tax credit provision. The bill creates a tax incentive for investors to support investment funds that invest in innovative small businesses such as nanotechnology start-ups. It also helps provide access to capital for these small, research intensive businesses through a tax credit similar to the "new markets" credit.

"This bill addresses the needs of nanotechnology start-ups, which are tremendous engines for innovation in America," said Bock. "It promotes investment at the crucial development stage, which will help small companies get their breakthrough ideas to the marketplace."

About Nanosys

Nanosys, Inc. is a leader in the development of nanotechnology-based products utilizing high performance inorganic nanostructures. Nanosys has built one of the broadest technology platforms in the industry with more than 450 patents and patent applications covering fundamental areas of nanotechnology. Based in Palo Alto, Calif. and privately held, Nanosys collaborates with industry leaders to develop revolutionary high-value, high-performance products for computing, optoelectronics, communications, renewable energy, defense and the life sciences. Additional information on Nanosys can be found at www.nanosysinc.com.

Contact Information

  • CONTACT:
    Peter Garcia
    Chief Financial Officer
    Nanosys, Inc.
    (650) 331-2154
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